GM negotiates sale of Opel to PSA
GM and PSA confirm negotiations on the sale of Opel and Vauxhall to the French. According to a statement released by both groups, General Motor GM and Groupe PSA are negotiating a possible change of hands of the Anglo-German automaker from its longtime U.S. parent to the French. PSA, comprising the Citroën, DS and Peugeot brands, and GM are working [...]
According to a statement released by both groups, General Motor GM and Groupe PSA are negotiating a possible change of ownership of the Anglo-German automaker from its longtime U.S. parent to the French. PSA, comprising the Citroën, DS and Peugeot brands, and GM have been working together in an alliance since 2012 and have three specific projects underway within this framework that generate significant synergies for both groups, according to the official statement. Within this framework, further opportunities are regularly evaluated with the aim of improving profitability and operational efficiency. These include a possible acquisition of Opel Vauxhall by Groupe PSA. However, at this stage it is explicitly emphasized that "there is no guarantee that an agreement will be reached."
The last time GM considered selling Opel was seven years ago, when various interested parties were on the list, including Magna. What is often forgotten is the fact that Opel is a long-standing brand in the portfolio of the Americans, which the group had already taken over before the Second World War, in 1929. Opel's roots go back to 1862, when Adam Opel started manufacturing sewing machines. The sale of Opel would end a nearly 90-year transatlantic auto alliance.
